Economy

Some leaders say the combination of a challenging external environment, with capital flocking to safe havens, and higher U.S. Treasury yields is pressuring emerging-market currencies.

Overall, retail purchases rose 1.7% last month, following a revised 0.7% gain in February.

Authorities should be preparing to avert a potential future collapse in demand for Treasuries resulting from long-running concerns over the federal debt load, which would have "vicious" effects.

Manufacturing output, which accounts for three-fourths of total industrial production, slipped 0.1% after a stronger advance in February than initially reported.

However, the cost of processed goods for intermediate demand rose by the most in nearly four years, boosted by rising energy and food costs.

The highest monthly increase in nearly 4 years can largely be attributed to soaring gas prices resulting from the war in Iran.